Improving the oil recovery rate

Right now it is estimated that only about 40% of an oil reservoir can be extracted through conventional oil recovery techniques using pumps and water/gas injection methods.

Courtesy: Wikipedia

There is another recovery system that may be able to change that. It’s called Enhanced Oil Recovery technology (EOR). It is designed to extract the remaining oil from a deposit. It’s a gas (C02) injection technique which is gaining popularity because it reduces the viscosity of oil and improves its flow rate.

But there is a problem. With the current low oil prices, the industry is tightening it’s financial belt and because the next generation CO2 EOR is expensive and requires substantial investment, it’s unlikely to occupy a permanent place in oil fields for a while.